Bitcoin Miami 2021 Conference - What actually happened?! Wrap Up and the market in red.

Bitcoin 2021 Miami Conference was held this weekend in Miami. Unsurprisingly, it was one of the most anticipated events in the Cryptospace and it had it all. Bitcoin maximalists, Crypto OGs, politicians like Ron Paul and the Mayor of Miami Francis Juarez, business people like Michael Saylor, Jack Dorsey and the Winklevoss twins, artists, sports-legends like Floy Mayweather and Tony Hawk, comedians like Tim Dillon, celebrities like Jake Paul, unexpected events, and well.. a market that continued dipping during the weekend despite all that.

First, there was Ron Paul, talking about Bitcoin and the future of money, but failing to mention DeFI, other cryptocurrencies, blockchain, smart contracts, decentralization or nothing of the like.

Then, Michael Saylor of Microfinance and Max Keiser in a Bitcoin fireside chat screaming "Fuck Elon" on the livestream, after Elon Musk's notorious tweets against Bitcoin the past weeks, the latest ones being just one day before the Conference.

See here the video of Max Keiser going nuts and screaming Fuck Elon while entering the stage: https://www.youtube.com/watch?v=GC_h_tz44uw

Then we had Jack Dorsey of Twitter / Square saying that Bitcoin is the biggest thing that is happening in the world right now as it is enabling ethical money, it is banking the unbanked, offers privacy and freedom, and that the energy concerns are FUD as renewable energy would maximize miners profit and put that issue to rest.

In-between, the attendants were booing Floy Mayweather because he admitted that in the future there will be a cryptocurrency that will be bigger than Bitcoin. Speaking your mind doesn't bode well with Bitcoin maxis, we all know that. Well, Floy, the legend of boxing, showed up in Miami wearing an Ethereum logo T-shirt!

Probably, the only worthy highlight news of the event was that El Salvador will be designating Bitcoin as a legal tender. Nayib Bukele, the President of the country, appeared on a video-message saying that his country will become the first in the world to make Bitcoin a legal tender, that central banks are taking action that may cause harm to the economic stability of El Salvador, and that the bill will be sent to congress next week.

Personally, this was the only remarkable news from the event, as with it Bitcoin and cryptos will compete on an equal ground with FIAT money, other countries will be poised by the idea and could also pass similar bills, and in the future other cryptocurrencies will inevitably be accepted as legal tender if Bitcoin's use as legal tender in the country is successful.

Then, there was lots of debauchery and typical or atypical events, that showed parts of the immature and near-fanatical culture of parts of the cryptospace. From the typical morality and value of Bitcoin, to how the existing system is based on theft, to the lighting network and mining, to being sour about every other crypto, while failing to realise that lots of the other cryptocurrencies have been the gateway introduction for people to crypto. They even had toilet paper printed with the logos of Ethereum, Litecoin, Bitcoin Cash and dollar as an allusion that they are shitcoins.

Last, there was some random dude who stormed the main stage (the Satoshi Nakamoto stage), ripped of his clothes, started showing his dogecoin logo printed t-shirt, and screaming "Dogecoin to the moooooon" before being escorted out by the security.

In the end, it was an event that had it all, lots of ups, lots of downs, and just one noteworthy news-event, El Salvador. Lots of immaturity, thought orthodoxy, fanaticism at some points, and clownery. Some of the chats and discussions were interesting to follow and quite informative, but not all of it. The event itself, although it had peaked the expectations in the cryptosphere due to the names of people headlining and participating, didn't live up to them, and the market didn't take that lightly as it kept dipping during the weekend.